While Celsius emerges from bankruptcy, FTX seems close to solving the $400 million hack in its platform after the arrest of three suspects allegedly tied to the case.
The new site in Cedarvale, Texas, will host 66,000 mining rigs, with construction set to start in a few weeks; Hut 8 will provide end-to-end developmental services.
Celsius says it has had dialogues with the Securities and Exchange Commission, which had publicly opposed its previous reorganization plan and settled on only mining BTC.
The New York Bankruptcy Court has cleared Celsius' restructuring plan, unlocking around $2 billion worth of digital assets to be distributed to creditors.
Lawyers of Alex Mashinsky hinted they would argue digital assets are not securities amid a proposed plan to revive Celsius as NewCo after securing $450 million in funding.
The U.S. Bankruptcy Court for the Southern District of New York was informed that Celsius's rank-and-file creditors had voted in favor of a plan, but the vote still needs the approval of the Court.
Roni Cohen-Pavon has entered a plea of guilty to charges of securities fraud, wire fraud, manipulation of security prices and conspiracy to commit price manipulation of the CEL token.
A recent hearing at the Senate Banking Committee saw Gary Gensler grilled on the SEC's track record, highlighting contrasting attitudes toward the work of the securities regulator and its Chair.
A U.S. District Court has ordered Celsius CEO Alex Mashinsky's assets to be "restrained" as he deals with multiple criminal charges and lawsuits over the company's collapse.
Approval for the settlements will see court on August 10, paving the way for 30K claims worth $78 billion to be settled; another court date set for October will confirm Celsius' reorganization plans.
Commissioner Kristin Johnson praises the CFTC's efforts to regulate the digital asset sector but stopped short by saying that current enforcement actions are still incomplete.